LIFE: Lifecare AS launching a UK subsidiary

Lifecare has incorporated a new subsidiary, Lifecare Chemistry Ltd, located in
Bath, UK. 
- This move gives us clear strategic advantages related to chemical research
development and builds on the close and good collaboration Lifecare already has
established with the University of Bath, says CEO Joacim Holter.

Since 2020, Lifecare has worked together with researchers at the University of
Bath to provide expertise for advancing the implantable glucose sensor.
Professor Tony James and Dr. Jordan Gardiner at the Department of Chemistry are
developing glucose specific chemical receptors which will replace the existing
biobased receptors providing more reliability within the sensing sphere. 

The CEO of Lifecare states this team will clearly improve the quality assurance
of Lifecare's flagship product for people with diabetes. 
- Tony James has an outstanding academic record. He is a Fellow of the Royal
Society of Chemistry and he has developed a broad interdisciplinary approach to
research. He has published over 418 publications, including two books, 9 book
chapters and 407 papers in international peer reviewed journals. Professor James
is also the named inventor on 25 international patents, delivered 252 invited
lectures within the UK and internationally and he has more than 27.000
citations. Together with up-and-coming Dr. Jordan Gardiner they are a remarkable
asset for Lifecare, Holter points out.

- Due to business strategic considerations, now is the time to build on this
rewarding research collaboration, formalizing it through a new subsidiary based
in Bath. This will obviously give an advantage in terms of increased ownership
of the research results. The establishment of a UK subsidiary will also put us
in a position eligible for public support schemes and grants to the benefit of
our overall development, Holter says.

The director of Lifecare greatly appreciated the collaboration with the
university, which was recently named university of the year in the UK by the
Times and the Sunday Times.
- Advancing our nano-pressure sensor system from biological to chemical
receptors for glucose monitoring is very much welcomed at Lifecare AS. Our goal
of contributing to help people with diabetes, comprising more than 537 million
people globally, is becoming more of a reality because of the world-class
scientific expertise from the University of Bath, states Joacim Holter at
Lifecare.   


For further information, please contact:
 
Joacim Holter, CEO, Lifecare AS,  joacim.holter@lifecare.no, +47 40 05 90 40

This stock exchange announcement was published by Joacim Holter, CEO at Lifecare
AS, on 08.11.22 at 08:43 CET.